Recent data from the Ministry of Industry and Information Technology revealed that China’s photovoltaic (PV) products hit an impressive export milestone, soaring to a total value of $42.99 billion within the first 10 months of the year.
The PV sector in China showcased robust growth, particularly from September to October, as official statistics outlined a substantial uptick in output across key products within the industry’s supply chain.
During this two-month period, the country witnessed a staggering 90 percent increase in polysilicon production, reaching a total of 236,600 tonnes compared to the previous year.
Furthermore, output expansions were noted in polysilicon wafers, which surged by 61 percent to 87.95 gigawatts, and crystalline silicon PV cells, marking a notable 78.7 percent increase to 83.81 gigawatts from the preceding year.
The rapid expansion of China’s PV industry aligns with the nation’s concerted efforts towards a low-carbon transition, fostering a surge in demand and subsequent advancements in PV product development. Notably, within the first 10 months of this year, the country witnessed a substantial uptick in installed PV power generation capacity, increasing by a remarkable 142 million kilowatts.
These figures underscore China’s significant strides in not only meeting domestic demands but also establishing itself as a dominant player in the global PV market, signaling an era of robust growth and technological advancement within the industry.